www.statusin.org

Organization : Swaziland Revenue Authority
Type of Facility : Submit Income Tax Returns
Country: Swaziland

Website : https://www.ers.org.sz/

SRA Submit Income Tax Returns

Why Submit An Income Tax Return:
** For effective reconciliation of one’s income tax affairs
** To enable calculation of income tax due (or refund)

Related : SRA Swaziland Revenue Authority Registration For e-Tax & File Your Tax Returns : www.statusin.org/8953.html

** For credit worthiness as a taxpayer
** To contribute to national development

Who Must Submit Income Tax Returns:
** Individuals
** Companies
** Employers
1.Whether resident or non resident
2.So long as the income is deemed to be sourced in Swaziland

Persons Not Required To Furnish Income Tax Returns:
A person who was in continuous employment with a single employer, whose gross income during the year of assessment consisted ONLY of remuneration.

A person whose employee’s income tax deducted was payable in terms of the prescribed tax deductions tables and was further subjected to the FDS; and

Such person did not derive any other income, or if the additional income derived consisted of a dividend which has been subject to a final withholding tax.

Submission By Individuals:
** Self employed individuals regardless of their income
** Sole traders. This includes income from:
1.Spazas
2.Farming
3.Salons
4.Any other commercial/business activity
** Pensioners earning a gross income of more than E46 000 per annum
** Employed individuals
1.With other sources of income(e.g. part time work or business)
2.Who has received income from more than one employer
** Recipients of rental Income
** Members of clergy (pastors, prophets, priests, apostles, administrators etc)
** Legislators
** Members of Board of Directors
** Partners in partnerships
** Locally recruited staff of international organisations and Embassies
** Trust Funds
** Non Governmental Organisations

Submission By Companies:
ALL companies must submit a return, including:
** Loss returns
** Profit returns

Important:
Companies registered for tax but not yet operational or that have not been operating in the year of assessment must notify the Commissioner General in writing.

What Constitutes Gross Income?:
All income received by the taxpayer during the year of assessment:
Employment income – Business income
Rental income – Board fees
Bonuses -Allowances
Benefits – Income that the taxpayer has a right to
Income from any business activity

How To Submit A Tax Return:
o Download the form or collect it from an SRA Tax Office/service centre
o Complete form, sign it and submit it to the SRA, attaching financials and all supporting documents, before the 31st October (Deadline); or 120 days after a financial year end for a company whose year end is different from the tax year (July-June).Late submission of returns attracts penalties.

FAQ :
Which organizations qualify for VAT exemption on goods and services?
A. Amateur (unprofessional) organization of sporting activities and non- profit and cultural activities and services.
B. International Agreements
C. Diplomats, Diplomatic and Consular Missions and international organizations

When is the deadline for submitting VAT returns online?
The deadline for VAT online filers is the 27th of the following month after the end of the tax period.

What are the implications for the input tax claimed on assets upon de-registration?
The input tax on the remaining life span of the asset must be declared as output tax in the final return.

Can a registered business claim the VAT paid on machinery purchased before registration?
A registered business can only claim VAT paid for assets purchased 6 months before registration with the first return provided there is supporting documentation.

Is the supply of mobile telephone services (i.e., airtime, gadget, simcard) subject to VAT?
The supply of mobile phone services is taxable at the standard rate. A taxable person who is in the business of supplying mobile telephone services should charge VAT at the rate of 14%.

Can a registered business claim the import VAT paid at the border?
Yes. A taxable person may claim import VAT paid at the border if the goods imported are going to be used in the business of making taxable supplies.

Does SRA require agents to file returns on behalf of the principal?
On the issue of submitting returns, the duty still lies with the principal (if required to register) and if the agency has agreed to do the ‘additional’ work on his behalf that will be in terms of the agency contract, but the obligation remains with the principal.

Does an agent who sells on behalf of someone else liable for VAT? E.g. a handcraft trading company that sells on behalf of the handcrafters or an estate agent acting on the capacity of the landlord/principal?
The principal must register for VAT if reaching the threshold of E500 000. If the agent is charging commission for sourcing the market for the different handcrafters, the accumulated commission attracts VAT if it reaches the registration threshold.